But what of outgoing chief exec Angela Ahrendts? This morning the brand published its annual report, detailing exactly what she was paid in the year leading up to her departure. Ahrendts' pay included:

£1.057m salary (3.6% higher than last year)

£344,000 'overseas allowance' (which was included in her contract to pay for her move from the US. Which presumably wasn't quite as necessary eight years after she settled in the UK...)

£18,000 car allowance

£25,000 clothing allowance

£23,000 medical insurance

A £1.5m bonus (3.4% lower than last year)

The report reckons the most Bailey could earn this year is £10.3m, including bonus and shares, although his full remuneration is expected to be more like £6.1m. But the brand has shown no sign of slowing down since Ahrendts’ departure at the end of April: last month Burberry posted revenues up 17%. Play his cards right, and Bailey could be in a very sweet position. Although he'll have nothing on Ahrendts' new $68m (£40m) Apple pay packet...